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Updated almost 2 years ago,
LLC formations and disputes
Hi everyone,
Does anyone have a lawyer they've used in the past that's good at explaining rights in an LLC (both for existing and forming new ones)?
I'm considering forming an LLC with 2 other business partners. I wanted to understand what it means to have a majority when ownership is split into equal ownership across all 3 members. In particular, I don't want to find myself in a situation where we buy real estate, the other 2 members then decide (through a majority vote) to sell themselves the real estate to another LLC (which they've formed) and I'm out of the loop. I trust these members but they have a family bond and you never know what can happen so just trying to make sure I'm protected before setting down a multi year partnership.
Thanks,
Sunny